Correlation Between Mogotes Metals and Maple Leaf
Can any of the company-specific risk be diversified away by investing in both Mogotes Metals and Maple Leaf at the same time? Although using a correlation coefficient on its own may not help to predict future stock returns, this module helps to understand the diversifiable risk of combining Mogotes Metals and Maple Leaf into the same portfolio, which is an essential part of the fundamental portfolio management process.
By analyzing existing cross correlation between Mogotes Metals and Maple Leaf Foods, you can compare the effects of market volatilities on Mogotes Metals and Maple Leaf and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Mogotes Metals with a short position of Maple Leaf. Check out your portfolio center. Please also check ongoing floating volatility patterns of Mogotes Metals and Maple Leaf.
Diversification Opportunities for Mogotes Metals and Maple Leaf
0.57 | Correlation Coefficient |
Very weak diversification
The 3 months correlation between Mogotes and Maple is 0.57. Overlapping area represents the amount of risk that can be diversified away by holding Mogotes Metals and Maple Leaf Foods in the same portfolio, assuming nothing else is changed. The correlation between historical prices or returns on Maple Leaf Foods and Mogotes Metals is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Mogotes Metals are associated (or correlated) with Maple Leaf. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of Maple Leaf Foods has no effect on the direction of Mogotes Metals i.e., Mogotes Metals and Maple Leaf go up and down completely randomly.
Pair Corralation between Mogotes Metals and Maple Leaf
Assuming the 90 days horizon Mogotes Metals is expected to generate 1.78 times more return on investment than Maple Leaf. However, Mogotes Metals is 1.78 times more volatile than Maple Leaf Foods. It trades about 0.03 of its potential returns per unit of risk. Maple Leaf Foods is currently generating about -0.04 per unit of risk. If you would invest 29.00 in Mogotes Metals on September 3, 2025 and sell it today you would earn a total of 1.00 from holding Mogotes Metals or generate 3.45% return on investment over 90 days.
| Time Period | 3 Months [change] |
| Direction | Moves Together |
| Strength | Weak |
| Accuracy | 100.0% |
| Values | Daily Returns |
Mogotes Metals vs. Maple Leaf Foods
Performance |
| Timeline |
| Mogotes Metals |
| Maple Leaf Foods |
Mogotes Metals and Maple Leaf Volatility Contrast
Predicted Return Density |
| Returns |
Pair Trading with Mogotes Metals and Maple Leaf
The main advantage of trading using opposite Mogotes Metals and Maple Leaf positions is that it hedges away some unsystematic risk. Because of two separate transactions, even if Mogotes Metals position performs unexpectedly, Maple Leaf can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Maple Leaf will offset losses from the drop in Maple Leaf's long position.| Mogotes Metals vs. Teck Resources Limited | Mogotes Metals vs. Ivanhoe Mines | Mogotes Metals vs. NGEx Minerals | Mogotes Metals vs. Skeena Resources |
| Maple Leaf vs. Global Crossing Airlines | Maple Leaf vs. Hemisphere Energy | Maple Leaf vs. SalesforceCom CDR | Maple Leaf vs. Verizon Communications CDR |
Check out your portfolio center.Note that this page's information should be used as a complementary analysis to find the right mix of equity instruments to add to your existing portfolios or create a brand new portfolio. You can also try the Funds Screener module to find actively-traded funds from around the world traded on over 30 global exchanges.
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